Cryptocurrency Market Update: Make or Break Point

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Bitcoin reached a monthly high of around $4120 before starting to correct downwards. The daily volume of bitcoin recorded a 3 month high today of more than $11 billion. Ethereum went up to $145 which is also a monthly high before correcting downwards and is up by more than 5% on the daily chart. XRP also experienced a slight upward move to around $0.316.

Almost all top cryptocurrencies have reached their monthly high today expect for Binance coin (BNB) which is down by around 1.5%. The winner of the day is Tezos which is up by more than 15% on the daily chart and currently trading around $0.90. The reason for the rise of XTZ or Tezos is Coinbase Custody offering staking support for Tezos coin.

Coinbase announced the offering of staking support for XTZ yesterday after which the coin started to surge:


 

Cryptocurrency Market Cap and Daily Volume

CoinMarketCap
CoinMarketCap

The total cryptocurrency market cap currently stands at around $145 billion and is up by around 2% from the last 24 hours according to data from CoinMarketCap. Interestingly, the daily trading volume is moving towards a yearly high approaching $40 billion which indicates that there is surely going to be a drastic move in terms of the price of bitcoin and other top cryptocurrencies.

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